By : CHOK SIM YEE
KOTA KINABALU: Sabah will
boom in the next 10 years with billions of investment by the government,
Petronas and international companies.
Kota Kinabalu has the
potential to become the jewel of South East Asia due to the beauty of our
nature and our people, Tan Sri Dato’ Seri Haji Megat Najmuddin Megat Khas,
chairman of Asian Pac Holdings Bhd, said at the launching of Loft C, 110 units
of luxury serviced residences of KK Times Square Phase II, here on Friday.
The total investment cost
for KK Times Square Phase II is RM570 million. KK Times Square is developed by
Syarikat Kapasi Sdn Bhd, a wholly owned subsidiary of Asian Pac Holdings Bhd.
The eight-acre of KK Times
Square Phase I comprises shop offices, the 15 acres of Phase II will include
shopping, food and beverage, leisure and entertainment centre, exterior shops,
and five blocks of serviced residences.
The five blocks of serviced
residences, namely Loft A, B, C, D and E, will house 631 units in total.
Loft C, with its spectacular
sea view, offers various types of designs from 1+1 bedrooms to 4+1 bedrooms,
ranging from 704 square feet to 4,171 square feet.
With an average selling
price of RM983 per square foot, the price of Loft C units ranges from RM754,000
to RM2,818,000.
Residents of Loft will also
enjoy a three-acre Eco Deck, a greenery park with landscaped water feature,
garden and sculptured lawns, equipped with gym facilities, children’s
playground and covered walk path providing access and recreation.
In addition, KK Times Square
will feature an internationally renowned four-storey Imago shopping mall
measuring 800,000 square feet of lettable space upon completion of the final
phase.
Megat Najmuddin said
Petronas would be spending RM45 billion in the next 10 years in Sabah, while
the government would also spend billions in upgrading the infrastructure in the
State.
With the money and
investment into Sabah by the government, Petronas and international companies,
Megat Najmuddin said it was his hope that Sabah would boom in the next 10
years.
To achieve this, Megat
Najmuddin said Sabah need to bring in more talents from overseas and Peninsular
Malaysia to develop Sabah into a destination like Dubai or Singapore.
“We don’t want second grade
development in the State.
“We must upgrade the city to
something like Dubai and Singapore, and it is important to make that dream come
true,” he stressed.
KK Times Square, as Megat
Najmuddin said, was constructed using first class materials and engaged first
class architects to produce first class architectural design.
He believed that the KK
Times Square project, which he said to be the only kind of integrated living in
Malaysia, would uplift Kota Kinabalu to a new level.
“KK Times Square offers
all-in-one lifestyle package. You can live here, you can work, you can play at
this place.”
Meanwhile, Dato’ Mustapha
bin Buang, managing director of Asian Pac Holdings Bhd, said the construction
of Phase II had reached 30 to 40 per cent and it was expected to be completed
in the first quarter of 2014.
Mustapha said Loft A, B, D,
E, which were launched previously, had an average take-up rate of 80 per cent.
“Loft B was launched a year
back and it has a good take-up rate of 93 per cent,” he said, adding that
majority of the buyers were locals.
With the launching of Loft
C, Asian Pac Holdings Bhd is offering 11 per cent guaranteed rental return over
two years, which is 5.5 per cent per annum. Those who purchase for their own
stay will receive five per cent plus two per cent special rebate.
The first 50 purchasers on
Friday were entitled to a business class ticket to Paris for one person worth
between RM10,000 and RM20,000.
Also present at the
launching were Asian Pac Holdings Bhd senior manager of sales Lilian Lung and
group accountant Y.Y. Liew. (BP)
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